A potential 785 points move is on the cards.
Most probably, tomorrow ( Friday ) , the price action may consolidate. I am expecting either massive gap up or gap down on Monday.
From a macro point of view, the FII are net sellers and inflation hasn't peaked yet. The scope of soft landing are out of the cards and the FED chairman has hinted about a potential...
Though FED sounds all hawkish in their latest FOMC meeting, the rate hike of just 25 basis point would mean that the Mr. Market has already factored in the hike in its current valuation.
After a long time, the FII have started to buy and DII are booking their profits.
All the stocks which are in the lower valuation zone, needs to be accumulated.
As we have been seeing in the last couple of months, the FIIs have been selling heavy. It has been attributed to many reasons like Fed's policy tightening, Geopolitical instability, etc. Now that the markets have been correcting heavily in the US, the meme stocks, over hyped growth stocks and even TSLA has been taking serious beatings in the market. At the end...
In the no trade zone.
Enter at pull back.
Check for trend confirmation with 1H as well.
Expecting the market to move little bullish (exhaustion phase), as its oversold for today ( came to the price two days before ) for
sellers pullback at around 17795.
Maybe there will be activity in the market at around 1 30 P M.
1. Nifty has been on a selling / down trend in 4H and in D levels.
2. The miniature buy trend that started around 17000 confirmed the trend reversal today by its 1H candle.
3. Two options :
- Wait for pullback ( 15 Minutes needs to be engulfed bullish for the pullback to close )
- Entry at the discounted price, the...